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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who started this subject	6/24/2003 11:43:11 PM
From: Alex MG	Read Replies (3) of 19219

"For almost 12 weeks bulls have been buying every dip with great reward. This is not rocket science; these people are going to keep buying dips until there is no reward. Because this is still a secular bear market, I have little doubt that at some point this strategy will stop working – but let's take one step at a time. In the near term, the "game" is the end of the quarter. Now I don't want to lead anyone to believe that the stock market is rigged, but if you were the powers that be at the leading mutual funds, wouldn't it make sense to ensure that this quarter ended well? I mean, just think of all of the marketing they will be able to do if stocks go out firm – the new bull market, yada, yada, yada. This means that the end of this week and early next week should bring some buying as mutual funds put money to work in their best performing positions. Although I'm basically a bear, I can't get in front of that." Terry Bedford moneycentral.msn.com

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